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Stock impact report

Trump's postal chief says cuts have gone too far: ‘we cannot cost-cut our way to prosperity' [Fortune]

United Parcel Service, Inc. (UPS) 
Last united parcel service, inc. earnings: 4/28 07:00 am Check Earnings Report
US:NYSE Investor Relations: investors.ups.com
Company Research Source: Fortune
Steiner said the 150-year-old agency needs to expand its revenue base to restore prominence in the nation's delivery network. It also should capitalize on its long-standing legal obligation to deliver to every address. One way it can do that, Steiner said during the Postal Board of Governors meeting in Washington, is by working with more customers to provide final or “last mile” delivery to individual home and businesses, the most expensive and labor-intensive part of delivery. “I've taken to saying that we cannot cost-cut our way to prosperity,” Steiner said. “We have to grow.” Steiner said the postal service, which has faced an uncertain future since President Donald Trump's election to a second term, is currently negotiating deals with private parcel delivery service UPS and similar companies to expand its last-mile service for the final leg of delivery. He said USPS also wants to open up that program to large and small retailers, offering same-day and next-day delivery. “ Show less Read more
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